Alan Salmon’s Software Review – A CGA-BC Exclusive
Vol. 39 / No. 3 • FALL 2012
A PUBLICATION OF THE CERTIFIED GENERAL ACCOUNTANTS ASSOCIATION OF BRITISH COLUMBIA
Ultra CGA
Why one member is racing
to make a difference
Partners,
get on the same page!
Before you
even say a word...
take this expert’s
public speaking advice
40069088
Terry Craig, CGA
See page 24
30
28
40
Vol. 39 / No. 3 • FALL 2012
features
24 A true Ultraman
CGA Terry Craig participates in a gruelling
endurance event – and proves that organ
donors can go the distance
contents
16
Trends in accounting
software
Alan Salmon reviews the most popular
accounting software options for you and your
clients
28
Investment options in a time
of low interest rates
Steve Zadra highlights income investment
options that offer decent returns
30
Life-cycle assessment
32
Before you even say a word
LCA lets you understand the true, long-term
costs of an investment decision
Planning and preparing for your public speech
is just as important as the speech itself
views
spotlight
06 taxmatters
Ed Kroft looks back on the
major developments in
Canadian tax this summer
09 techview
Your notebook is valuable –
learn how to keep it (and its
data) safe
12 periscope
Career coach Joanne Loberg
outlines fail-safe tips for
building a successful career
14 ethics in focus
Evaluating an ethical
dilemma
34 publicpractice
Edifier
23 keepingTabs
CGAs in the news and
members on the move
36 currentAssets
A roundup of all the latest
gadgets, tech gear and apps
38 snapShots
Photos from CGA-BC events
40 partingShot
Meet Angela Trif, CGA, a
business consultant with the
Interior Health Authority and
dedicated CGA-BC volunteer
42 morethanNumbers
Letting the data tell the
story
Steve Erickson says partnerships with a high degree
of trust are more profitable
You can follow CGA-BC
on Facebook and on Twitter at
www.twitter.com/cgabc
Cover photo (and related story photos)
by Rick Kent.
outlook 03
editor’smessage
outlook
executive committee
>
We hear clichés like “hit the
ground running” or “head of the
pack” all the time. But CGA Terry
Craig really lives and breathes
those sayings as his perfor-
are so afraid of public speaking
that they’d rather be in the casket than giving the eulogy. Maybe that’s a bit of an exaggeration
on his part, but when you finish
What Did You Do This Summer?
mance in the Ultraman Canada
competition headlined in this
issue shows. He battled the heat
of an Okanagan summer to run,
bike and swim distances that
some of us wouldn’t even drive.
He did it to highlight the need
for living organ donation and
to show that even when you
have donated a vital organ like
a kidney you can be an ultracompetitive athlete.
Speaking of the heat of summer, the ever perceptive and
insightful Ed Kroft shows that
while we were enjoying the
beach or travelling this summer,
a lot was happening in the
world of taxation. He reports, for
example, that the CRA has been
conducting various income tax
audits in the area of tax-free
savings accounts and retirement
compensation arrangements.
Many of us have heard the
Seinfeld line about people who
reading Chris Molineux’s article
(and possibly taken his course),
you are going to be ready to
conquer all your public speaking
fears. Like everything you do as
a CGA, it’s really about planning
and being prepared. The rest is
just technique.
If you are in public practice,
then Steve Erickson’s piece on
getting partners on the same
page has some solid tips. And
ethicist Michael McDonald, CGA
(Hon.), tackles some of the everyday ethical issues that many
of us confront.
As always, we love to hear
from our readers. We did get
more mail than usual about last
issue’s article on Gerry McKinnon, CGA (Hon.), and he even
penned a letter himself. Remember, if there’s something you’d
like to say or a story idea that
you would like covered, don’t
hesitate to contact us.
Chair: Cindy Choi, FCGA
Past-Chair/Treasurer: Bruce Hurst, FCGA
First Vice-Chair: Candace Nancke, FCGA
Second Vice-Chair: David Sale, FCGA
Chief Executive Officer and Secretary: Gordon Ruth, FCGA
executive staff
Chief Executive Officer: Gordon Ruth, FCGA
Director, Administration, HR & IT: Dan Cheetham, CGA
Director of Marketing & Communications:
Edward Downing, MA (Journalism)
Director of Education & Student Services:
W. D. (Bill) Johnson, FCIS, PAdm, FCGA
Director, Executive and Corporate Affairs: Juliana Laing, BA
Director of Member Services: Pamela Skinner, BSc, CFP, CGA
outlook staff
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Regular Contributors:
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CGA (Hon.); Alan Salmon
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Copyright CGA-BC 2012.
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04 outlook
letters
I enjoyed reading the article on
Gerry McKinnon in the recent
Outlook issue. We owe a lot to
the ‘pioneers’ like Gerry and
his comments are ‘right on the
money.’
feature
“BS baffles brains. If you don’t have chutzpah it’s like a piece of wet lettuce: it just lies there. and
that was the problem I had with so many accountants. I had to enrol them in public-speaking
courses because they couldn’t express themselves effectively.” Gerry McKinnon, CGA (Hon.)
THE
E
F ON
ONE
All his life Gerry McKinnon, CGA (Hon.), did great things: he became a decorated war
veteran, raised and supported a family, was successful in business and served countless volunteer hours. Throughout, McKinnon was influential in shaping the communities and societies where he lived.
Among his most recognized achievements was propelling the Certified General
Accountants of British Columbia forward, helping it establish a sense of identity in
the 1960s that enabled the organization to become the industry leader that it is now.
It is difficult to imagine today’s CGA-BC, with all its power and polish, operating
with just McKinnon, Fran Maynard and two staff members. In 1967 they worked in a
dreary little office on Hastings Street. The organization had 600 CGA students, with
an additional membership of about 600. CGA-BC was the governing and regulatory
body responsible for their training and certification.
Today the organization boasts nearly 15,000 CGAs and CGA students. Which makes
it all the more remarkable that McKinnon was able to achieve what he did for the
organization without being an accountant.
Yet for all his achievements as Executive Director, McKinnon says he is most proud
of the letters BBE, which appeared after his name at his retirement from CGA-BC on
December 1, 1981. The letters stand for Best Boss Ever and were bestowed on him by
affectionate staff.
“He was realistic in how he perceived staff and the organization,” says Vernon Dean,
who met McKinnon through CGA-BC in the 1960s and remains a close friend today.
“He was fair and appreciated the staff and the work they did, and because of his own
attitude a lot of them became CGAs.”
Born on October 3, 1920 in Peterborough, Ontario, McKinnon embarked on his first
career as a military man in Brockville as World War II drew more and more countries
into the fray.
1
F
>
PRI
O
O
ONE
OF
By Quintin Winks
DE
CGA-BC’s first Executive Director instilled pride in all members and students
Standing a
quarter-inch taller
In 1942, McKinnon was sent to a
new school in Nanaimo on Vancouver Island. He crossed the country
by train that February, eventually
arriving in the Lower Mainland.
“I looked out at one point and
there were snow-capped peaks
and Holsteins standing up to their
udders in green grass,” he says.
“I thought I had died. Here it was
February and we could wear short
sleeves.”
If that optimism is to blame for
an ensuing bout of pneumonia that
landed him in a Nanaimo military
hospital, it must also be credited
with introducing McKinnon to his
future wife.
While convalescing, the new
brigadier intelligence officer met
the “cutest little nurse” named Mary
Campbell. The couple began dating
and became engaged.
But as love played out on
Vancouver Island, war played out
in Europe. Before long Mary was
shipped east, so McKinnon applied
to go overseas. As he lined up to
board the ship sailing for England
he looked up, into the sea of faces,
and saw Mary.
“Everything was secret and classified and we had no idea the other
would be aboard,” he says. “Yet we
ended up going overseas together.”
The reunion lasted as long as the
voyage. McKinnon was transferred
to the British army, Mary to a
hospital elsewhere. They had a brief
reunion over beer one evening
before McKinnon was shipped to
Normandy as part of the D-Day
invasion.
“We were totally surrounded by
people, some of them in big black
helmets,” he says of the experience.
“It was an indescribable situation.”
McKinnon was wounded during
the invasion and flown back to England. Back on friendly soil, he was
eventually transferred into Mary’s
1
34 outlook
outlook 35
Kudos for Article
Thanks for the great article on
Mr. McKinnon. His is an amazing
story and very worthy of sharing
with the membership. Thanks!
Allen Szeliga, CGA
Chief Financial Officer
Darford International Inc.
Vernon, B.C.
Mary McKenna, CGA
Capital Budget Analyst
Provincial Health Services
Authority
Vancouver, B.C.
Today I received my copy of the
summer edition of Outlook and
as much as I am embarrassed, I
do thank you for remembering
me. I certainly cherish the time
Mary and I spent with the Association and its wonderful and
dedicated people all across this
beautiful country – many are still
our closest friends.
I really must acknowledge
that all our goals and objectives
were set by resolutions of our
Board of Governors that I had the
pleasure of working for and with.
I did “tease” them every so often,
but after all these years, many of
them are still my very best friends
today.
If I may, I would like to correct,
for the record, that it was not our
B.C. office staff that revamped
the course of study – that was
accomplished by the then
National Coordinating Council on
Education and the faculty at UBC.
I was the Secretary-Treasurer of
that group.
Many thanks to you all and
again congratulations to us all
on this [sic] our 60th anniversary
year. Perhaps it is now time, after
all our historical success, to add
another quarter-inch and from
now on stand a half-inch taller
with justifiable pride.
G. F. McKinnon, CGA (Hon.)
Comox, B.C.
Have an opinion? Email your “letter” to edowning@cga-bc.org
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Left to Right:
Vern Bla i r, Cheryl Shearer, Rober t D. Mackay,
Kiu Ghanavizchian, Chad Rutquist,
Gary M. W. Mynett, Chris Halsey-Brandt,
Andy Shaw, Jeff P. Matthews, Farida Sukhia
outlook 05
Ed Kroft, QC, LLB, LLM, CGA (Hon.)
and Soraya Jamal, LLB, LLM
taxmatters
G
iven that I’m writing
this in September,
it seems fitting to
talk about what has
transpired during the past
three months in the Canadian
income tax world, particularly
if you have been busy with
tax return compliance or otherwise occupied. The matters
that follow will be discussed
at upcoming tax update
seminars to be held this fall.
(resolutions 44 to 47); and
additions to the list of eligible
expenses for the medical
expense tax credit (Regulation 5700).
On April 26, 2012, the Minister of Finance introduced
Bill C-38, which implements
certain tax measures from
the 2012 Budget and enacts
and amends several other
Acts. Bill C-38 also implements all of the GST/HST
CRA has been conducting various
income tax audit
initiatives, including
audits of tax-free
savings accounts,
domestic trusts and
retirement com-
A review of noteworthy income tax developments during the
past three months
What Happened This Summer?
Income tax legislation
in the 2012 Federal
Budget
The Federal Budget was tabled on March 29, 2012, and
47 resolutions were in the
Notice of Ways and Means
Motion tabled on that day.
On April 23, 2012, the
Minister of Finance tabled a
Notice of Ways and Means
Motion to implement some
of the proposals in the 2012
Budget. These include the
temporary measure to allow
certain family members to be
RDSP plan holders (portion
of resolution 1); extension of
the mineral exploration tax
credit for flow-through investors (resolution 2); split and
late eligible dividend elections (resolution 3); taxation
of the Governor General’s
salary (resolution 15); partnership waivers (resolution
27); gifts to foreign charitable
organizations (resolution 42);
political activities of charities
(resolution 43); changes relating to tax shelters, including
tax shelter identification
numbers and increased penalties for failure of promoters
to file information returns
06 outlook
Budget proposals. These
address health services (including medical and assistive
devices, pharmacist services
and providing corrective
eyewear), the book rebate
for literacy organizations, tax
on imported rental vehicles
and streamlined accounting
thresholds. On June 29, 2012,
Bill C-38, the Jobs, Growth
and Long-term Prosperity
Act, received Royal Assent
as Chapter No. 19.
On August 14, 2012, the
Department of Finance
released draft legislation
and explanatory notes
pertaining to other items
announced on March 29.
The draft legislative proposals include the following
measures:
Personal Income Tax
• Improving Registered
Disability Savings Plans
(RDSPs) following the review of the RDSP program
in 2011.
• Including an employer’s
contributions to a group
sickness or accident insurance plan in an employee’s
income to the extent that
pensation arrangements.
Ed Kroft, QC, LLB, LLM,
CGA (Hon.), is a partner
with Blake, Cassels &
Graydon LLP. He is a
member of the firm’s Tax
Group and leader of its
Tax Controversy & Litigation Group.
Soraya Jamal, LLB, LLM,
is an associate with
Blake, Cassels & Graydon
LLP, where she provides
tax advice on domestic
and international corporate taxation matters.
the contributions are not
in respect of wage-loss
replacement benefits payable on a periodic basis.
• Amending the rules
applicable to retirement
compensation arrangements to prevent certain
schemes designed to
inappropriately reduce tax
liabilities.
• Amending the rules applicable to Employees Profit
Sharing Plans to discourage excessive contributions for employees with a
close tie to their employer.
Corporate Income Tax
• Expanding the eligibility
for the accelerated capital
cost allowance for clean
energy generation equipment to include a broader
range of bioenergy equipment.
• Phasing out the Corporate
Mineral Exploration and
Development Tax Credit.
• Phasing out the Atlantic
Investment Tax Credit for
activities related to the oil
& gas and mining sectors.
• Providing that qualified
property for the purposes
of the Atlantic Investment
Tax Credit will include
certain electricity generation equipment and clean
energy generation equipment used primarily in an
eligible activity.
• Reducing the general
Scientific Research and Experimental Development
(SR&ED) investment tax
credit rate to 15 per cent
from 20 per cent.
• Reducing the prescribed
proxy amount, which taxpayers use to claim SR&ED
overhead expenditures,
from 65 per cent to 55 per
cent of the salaries and
wages of employees who
are engaged in SR&ED
activities.
• Removing the profit element from arm’s-length
third-party contracts for
the purpose of calculating
SR&ED tax credits.
• Removing capital from the
base of eligible expenditures for the purpose
of calculating SR&ED tax
incentives.
• Preventing the avoidance of corporate income
tax through the use of
partnerships to convert
income gains into capital
gains.
International Taxation
• Ensuring that transfer
pricing secondary adjustments will be treated as
dividends for Part XIII withholding tax purposes.
• Improving the integrity
and fairness of the thin
capitalization rules by:
- reducing the debtto-equity ratio from 2-to-1
to 1.5-to-1;
- extending the scope of
the thin capitalization rules
to debts of partnerships of
which a Canadian-resident
corporation is a member;
- treating disallowed
interest expense under the
thin capitalization rules as
dividends for Part XIII withholding tax purposes; and
- preventing double
taxation in certain circumstances where a Canadian resident corporation
borrows money from its
controlled foreign affiliate.
• Restricting the ability of
foreign-based multinational corporations to transfer,
or “dump”, foreign affiliates
into their Canadian subsidiaries, while preserving the
ability of these subsidiaries
to undertake legitimate
expansions of their Canadian businesses.
• Phasing out the Overseas
Employment Tax Credit.
Other draft income
tax legislation
On July 25, 2012, the Department of Finance released
draft legislation to amend the
Income Tax Act. The draft legislation would add new sections 12.6 and 18.3 regarding
stapled securities and would
amend the definitions of
“non-portfolio property” and
“excluded subsidiary entity” in
subsection 122.1(1) and the
instalment rules for SIFT trusts
and SIFT partnerships. As well,
the draft legislation includes
an amendment to subsection
214(3) to address the issue of
withholding tax on amounts
that are payable from a
Canadian resident trust to
a non-resident beneficiary
but which are actually paid
after the trust ceases to be a
Canadian resident.
On June 8, 2012, the Department of Finance released
draft legislation to amend
the Tax Court of Canada Act
and the Income Tax Act. These
proposed amendments will
implement the changes
required to improve the
caseload management of the
Tax Court of Canada.
We have had a tax legislative hangover for many years.
Legislation announced in
2000, 2002 and 2003 has
sat unpassed yet has been
administered at times by
the CRA as if it were law. This
has caused mass confusion.
Proposed legislation dealing
with issues such as restrictive
covenants, attribution, foreign
trusts and other technical
matters was released in July
2010 but has not yet been
passed. On August 19, 2011,
draft legislation and regulations emerged regarding
rules relating to foreign affiliates. Some rules are new and
others are revised from an
earlier release on February 27,
2004. On December 14, 2011,
On June 8, 2012,
the Department
of Finance
released draft
legislation to
amend the Tax
Court of Canada
Act and the
Income Tax Act.
the Department of Finance
released for consultation draft
income tax legislation, regulations and explanatory notes
regarding pooled registered
pension plans.
On October 31, 2011, the
Department of Finance
released for comments draft
legislation, regulations and
explanatory notes regarding
technical amendments to the
Income Tax Act and the Excise
Tax Act. This package includes
technical changes relating to
trusts, investment corporations, mortgage investment
corporations, mutual fund
corporations and agricultural
cooperative corporations; the
treatment of non-residents
with Canadian service providers; corporations that carry on
an insurance business; and
the reporting of recaptured
input tax credits.
On March 16, 2011, the Department of Finance released
draft income tax legislation in
response to decisions in three
recent court cases. They are
Collins v. The Queen, 2010 DTC
5028 (FCA), regarding contingent amounts; Lehigh Cement
Limited v. The Queen, 2010
DTC 5081 (FCA), regarding
withholding tax on interest
paid to a non-arm’s length
non-resident; and The Queen
v. National Life Assurance
Company of Canada, 2008 DTC
6141 (FCA), regarding a life
insurance corporation’s segregated fund policy reserves.
Income tax case law
released during the
summer
The appellate courts and
the Tax Court of Canada do
not sit frequently in July and
August and decisions are not
issued very often. However, the Supreme Court of
Canada released Craig, which
involves a Toronto lawyer
who claimed farming losses
outlook 07
without the application of the
restricted farm loss rules. In a
landmark decision, the Court
unanimously rejected the
application of the Moldowan
decision and has enunciated a new interpretation
of the rules in section 31 of
the Income Tax Act. This is
welcome news for taxpayers. The Alberta Court of
Appeal issued two decisions
(Canada Safeway and Husky)
that dealt with the Alberta
General Anti-Avoidance Rule
(“GAAR”). The taxpayers were
both successful as they had
been in the lower courts.
Future case law
The Tax Court of Canada and
the Federal Court of Appeal
are expected to release a
number of decisions this fall
that will deal with various
aspects of the GAAR. These
cases deal with claims for
capital losses, claims for other
types of deductions and
losses, transfer pricing and
the imposition of non-resident withholding taxes.
Taxpayers are also
anticipating the Supreme
Court of Canada’s decision
in Daishowa, which will
be heard next March. The
case will address whether
a vendor of a business will
be required to include, as
proceeds of disposition, the
amount of assumed contingent liabilities associated
with the assets sold.
Some current CRA
audit initiatives
CRA has been conducting
various income tax audit
initiatives. One involves “high
net worth individuals” and
information request letters
have been issued to various
taxpayers. CRA continues to
audit and reassess taxpayers
who have made “leveraged
donations” or who bought
and sold real estate within a
relatively short time frame.
CRA has also been conducting audits of tax-free
savings accounts, domestic
trusts and retirement compensation arrangements. CRA
is initiating audits of trusts
throughout Canada, alleging
that the affected trusts are
resident in the jurisdiction in
which the beneficiary resides
notwithstanding that the
trustee is resident elsewhere.
The CRA is relying on the
unanimous decision of the
Supreme Court in Fundy
Settlement, which determined
that residence is based on
central management and
control of the trust and not
the residence of the trustees.
Other projects include
audits of non-profit organizations, the frequent imposition of penalties for failure
to file forms and slips and,
generally speaking, a move
to risk-based assessments.
CRA is still interested in
scrutinizing employee and
shareholder benefits, deductibility of expenses, claims
for scientific research and
experimental development
ITCs, and various valuationbased claims involving fair
market value.
Other audit issues have
surfaced in connection with
professional corporations,
transfer pricing, indirect tax,
international tax matters
(such as cross-border loans
and the taxation of non-resident employees working in
Canada), domestic non-arm’s
length transactions, interprovincial allocations and “tech
wreck “ loss/gains transfers.
Conclusion
Some of you may have reflected long and hard about
the thrilling aspects of tax
during the summer. Others
may have shunned any
mention of tax. The contents
of my review here may have
reaffirmed your actions. The
remainder of 2012 should
prove interesting, as it seems
that income tax law and
practice never stays static.
May the rest of 2012 bring
you health, happiness and
prosperity.
08 outlook
Alan Salmon and Randy Johnston
techview
W
e’re all busy
these days, but
that’s no excuse
to get sloppy
when it comes to securing
the safety of your notebook
and other portable devices.
These handy tools are valuable – making them popular
targets for thieves – and they
also tend to contain valuable
and sensitive personal and
professional information. In
this article, I outline some
tips for protecting these
devices at home and on the
road, including advice for
Here are 10 common sense
tips to protect your valuable
portable devices.
Statistics show
Carry your notebook
with you
Always keep your notebook
with you on a plane or train
rather than checking it with
your luggage. It is easy to
lose luggage and it is just as
easy to lose your notebook.
If you are travelling by car,
keep your notebook out
of sight by locking it in the
trunk when you are not
using it.
in 14 chance that
that there is a 1
your notebook will
be stolen.
A little time and effort now can save you lots of grief and
headaches later
Secure Your Notebook!
protecting your data as you
travel internationally.
Keep the following in
mind:
• A notebook is easy to carry
to and from work, presentations and client meetings
– but that means it is also
very easy for a thief to walk
off with it.
• Because a notebook is
small and portable, it is
easy to accidentally leave
it behind – as a friend of
mine did when he left
his notebook in the seat
pocket on an Air Canada
flight to Antigua.
• Your notebook is valuable to you because it
can speedily give you
access to important data,
information and software
– which also makes it
valuable to others and of
interest to thieves.
Statistics show that there
is a 1 in 14 chance that your
notebook will be stolen.
Even the FBI loses, on average, 10 notebooks a month.
Don’t put your notebook
on the floor
Setting it on the floor is an
easy way to forget about it as
you talk at a ticket counter or
order your cappuccino. If you
do set it down, put it between
your feet or lean it against
your leg.
Keep an eye on your
notebook
As you go through airport
security, hold your bag until
the person in front of you has
gone through the screening
process.
Avoid using computer bags
Computer bags make it obvious that you are carrying a
notebook. Instead, carry it in a
padded briefcase or carry-on
case.
Use a screen guard
These guards prevent someone from seeing your screen,
and are particularly useful if
you are working on sensitive
data in a public place.
Alan Salmon is a leading
authority on accounting
technology. He is the CEO
of K2 Enterprises Canada, a
North American consulting
firm providing technology
training to accountants. In
addition to his work with
consultants, accountants
and software companies in
both Canada and the U.S.,
he is the chairperson of
the Accounting Technology
seminar series. He can be
reached by email at
alan@k2e.ca or by visiting
www.k2e.ca.
Randy Johnston is a shareholder in K2 Enterprises
(www.k2e.com). He has
been a top-rated speaker
in the technology industry
for over 30 years. He was
inducted into the Accounting Hall of Fame in 2011.
He was selected as a Top 25
Thought Leader in Accounting in 2011 and 2012 and has
been selected eight times by
Accounting Today as one of
the Top 100 Most Influential
People in Accounting.
Don’t leave your notebook
in your hotel room
Many things get lost in
hotel rooms, as they are not
totally secure and there are
too many key cards floating
around. If you do leave your
notebook in your room, put
the “Do not disturb” sign on
the door to keep hotel staff
out.
Buy a notebook security
device or program
If you do need to leave
your notebook in your
hotel room, use a notebook
security cable to attach it to
a heavy chair, table or desk.
There are also programs and
devices that will report the
location of a stolen laptop. These work when the
notebook connects to the
Internet and can report the
notebook’s exact physical
location via GPS tracking.
Absolute Software’s LoJack
and its line of Computrace
products, for example, offer
physical location tracing
as well as capabilities for
remotely disabling a missing computer, retrieving or
deleting data, and more.
Affix your name and
contact info to your
notebook
You should put your name
and contact information,
along with the promise
of a “Reward if found – no
questions asked,” on your
notebook. This can substantially increase your odds of
getting your notebook back
in the event of theft or a
simple mix-up.
Use strong passwords,
and do not keep them in
your notebook bag
Strong passwords stop unauthorized access to individual
files and even to the entire
operating system. Of course,
outlook 09
the strongest password in
the world is useless if you
keep it in your notebook
bag.
Encrypt your data
If someone does get your
notebook and gains access
to your files, encryption
(scrambling your data) gives
you another layer of protection. With the Windows
operating system, you can
encrypt both files and folders. If someone does gain
access to an important file,
they cannot decrypt it and
see your information. With
more advanced versions
of Windows, BitLocker
encryption is available, or
third-party products like PGP
or TrueCrypt can be used to
encrypt the entire drive.
Cross-Border
Security for Your
Portable Devices
If you regularly travel to the
U.S. on business, you face
another potential security
issue with your notebook
and its data. U.S. laws allow
Customs and Border Protection (CBP) officers to search
and confiscate notebooks,
phones, cameras and other
data-storing devices. Agents
have also been known to
download the contents of an
entire computer hard drive
and other storage media
for later review. (Note that
similar situations occur at the
borders of other countries
as well.) So what are your
options to protect your portable devices and data from
such seizures?
Travel with a “bare”
computer
CBP officers cannot read
what a device does not
contain. That is why certain
companies give their em10 outlook
ployees “forensically clean”
computers for travel. These
computers contain the
operating system, required
applications, and little or
no data. Once they arrive at
their destinations, employees
work with data stored on
company servers via secure
virtual private networks
(VPN). They can download
files to their computers,
upload the results to company servers and “forensically clean” their notebooks
before travelling again.
Since broadband Internet
access is widely available
across the U.S., there are few
problems travelling with a
clean notebook, unless you
are downloading large files
or are in an area with poor
Internet access.
Use software with “SaaS”
Cloud computing is another
solution to avoid having sensitive data on your portable
devices. Your programs and
data can be in the cloud and
all you need to work is an Internet connection. However,
this approach is less secure
than total forensic cleanliness. Your web browser
tracks your Internet activity
using cookies, history and
other data. Make sure you
delete this record before you
board your next flight.
But what if the border
agents really want your data?
If a server (your company’s
or a SaaS provider’s) resides
within the borders of the
United States, the U.S. Patriot
Act enables U.S. government agents to access your
data (and compel the SaaS
company to keep the breach
quiet). If the data resides
outside U.S. borders, but the
company’s head office or
chief executives reside in the
U.S., the data must be turned
over upon request or the
U.S. laws allow
Customs and
Border Protection officers to
search and confiscate notebooks,
phones, cameras
and other datastoring devices.
company/executives may
face charges.
Back up your data
If border agents confiscate
your computer, they cannot
stop you from working if you
have a backup of your data
in a safe place, such as on
another hard drive or your
company’s servers. You will
then be able to load that
data on another portable
device.
Use a different user
account to hold sensitive
information
Today’s computers can be
used by different people,
each with their own login.
Users can password-protect
their accounts so other users
with access to that computer
cannot access programs and
documents that do not belong to them. You can set up
your notebook with a “clean”
non-administrative account
while you are travelling and
put your sensitive documents in a “safe” account for
which you do not know the
password. When you confirm
your arrival at your final destination, the colleague who
created the “safe” account
can send you the password
via secure email.
If you follow the above steps,
you will find that securing
your portable devices and
your data is a fair bit of work.
However, what happens
if you do not apply these
security policies? The bottom
line is that your devices and
information are at much
greater risk. You and your
business can be liable for
data loss. Never mind how
long it will take you to reconfigure a new portable device.
This is the technological version of the old adage: penny
wise and dollar foolish.
outlook 11
Joanne Loberg, BA, CMP, CEC
periscope
R
eady for your next
career move? Building a successful
career in financial
leadership involves more
than great work experience;
it involves a tailored career
plan, marketing tools and
strategically leveraging your
career to enhance your profile within and beyond your
organization.
Create a career plan
The old adage “Keep your
head down and work hard”
doesn’t necessarily help you
Commit to professional development
Read what your leaders are
reading. Notice the reading
material on your senior leaders’ desks. Commit yourself
to keeping abreast of the
broader issues impacting
organizations and fine-tune
your technical expertise
accordingly. Consider the
CGA-BC Certificate in Executive Leadership to strengthen
your strategic planning, communication, project and team
management, and critical
decision-making skills.
Building a
successful career
in financial
leadership
involves more
than great work
experience; it
involves a tailored
career plan,
marketing tools
and strategically
Tips on building a robust and rewarding career
Strategies for Career Success
build a career as a financial
leader. Instead, Recruitment
Team Lead Jim Huynh of Horizon Recruitment (formerly
WPCG Finance & Professional
Recruitment) advises you to
“develop a plan and know
where you want to get in 5 to
15 years.”
Be a rock star
Do your job well and consistently outperform your
performance objectives. Not
sure if your performance is on
track? Don’t wait for your annual performance review, ask
your manager for feedback
and suggestions now to help
you develop your expertise.
Show initiative
Increase your profile by
speaking up in team and
organization-wide meetings.
Suggest strategies to tackle
old problems and improve
processes. Volunteer to take
on projects − the more
complex and challenging, the
better.
12 outlook
leveraging your
career.
Build a sphere of
influence
Success rarely happens in isolation. Jim Huynh works with
successful financial leaders
and advises emerging leaders
to leverage their careers
by focusing on “building a
sphere of influence while
fostering connections and
growing their reputation
beyond their work groups.”
Get a mentor
The Corporate Leadership
Council surveyed CEOs of
Fortune 500 organizations
and discovered that one of
the top reasons CEOs believed they were successful
was having a mentor. Mentors guide and direct you, and
provide critical strategies to
navigate and advance your
career.
Raise your profile in
your organization and
beyond
Individuals who rise to the
top typically have rich net-
Joanne Loberg, BA, CMP,
CEC, provides career
coaching services to
professional and executive clients needing career
testing; targeted, accomplishment-based resumés
and cover letters; and interview practice to ensure
they launch a successful
job search.
works. Network with other
business units to find out
about their financial reporting needs and how your
division can better serve
them. Outside your organization, use the professional
networking site LinkedIn
to build your network. As
an extra bonus, LinkedIn is
actively used by recruiters
to source top talent. Lastly,
join a Board (www.boardmatch.org) so that you can
expand your network and
build your leadership skills.
Communicate your
success
In conversations within
your business unit and
with key decision makers,
keep others apprised of key
projects you have taken on,
as well as your successes.
Next time you’re in the
elevator and a senior leader
asks how you are doing,
talk about key projects or
initiatives you are involved
with. For example, “Things
are going well. I’ve just
begun implementing new
financial reporting software
that will greatly improve
our tracking of financial
performance within our
branch offices.”
Be a great people
manager
Advance your people
management skills: ask your
manager for the opportunity to manage larger teams.
Look for opportunities to
turn around team performance, coach and develop
employees, conduct performance conversations
and terminations (when
necessary), and drive teams
to successfully tackle key
projects. Develop a reputation for building high-performance work teams and
engaged employees.
Learn the art of
influencing
Patricia Hazelwood, Division
Director of Robert Half Finance & Accounting, specifically looks for candidates with
well-honed listening skills,
since “listening is important
to management as you must
listen to your team” in order
to influence change. She is
also looking for candidates
who are decisive, articulate
communicators without being arrogant or pushy. In her
words, it’s all about “relationship management.” Top candidates have a track record of
building strong relationships
throughout the organization,
which enable them to influence and drive change.
Fine-tune your
marketing tools
Critical to career success in
today’s highly competitive
market is a well-crafted, accomplishment-based resumé.
Set yourself apart by highlighting your results, such as
managing large or complex
projects, implementing IT
systems and suggesting
strategies to improve financial reporting and increase
efficiency. Where possible,
quantify your results.
Polish your interview
skills
Diane Kerley, National Practice Leader of Accounting &
Finance at Aplin Professional,
states it is imperative that you
Critical to career
success in
today’s highly
competitive market
is a well-crafted,
accomplishmentbased resumé.
consistently put your best
foot forward. She looks for a
“great attitude, enthusiasm
and good communication
skills.” If nerves get the best
of you, engage in interview
coaching with a career coach.
If you lack confidence and
clarity when communicating,
she recommends attending a
Toastmasters group.
Kerley also advises you to
know your resumé inside and
out, as well as your key accomplishments. Successful interview candidates are able to
readily discuss their successes
and sprinkle these throughout their interviews. During
interviews, present examples
of your accomplishments
related to process improvement, project management,
team leadership and other
contributions to the top- and
bottom-line performance of
the organization.
All three recruiters advise
that you be prepared for
these commonly asked
questions (which typically are
poorly answered):
• “Tell me about yourself.”
(Ensure your answer is
relevant to the role you are
applying for.)
• “Why do you want to work
for us?”
• “What do you know about
us?”
• “Walk us through your resumé.” (Talk about your key
accomplishments within
each role.)
Create a well-defined career
plan, establish a track record
of solid performance, take
on new projects, develop
your sphere of influence and
ensure your key accomplishments are captured in your
resumé and presented during
your interviews. Lastly, Jim
Huynh says “don’t be afraid of
change” in order to leverage
your career and reach your
goals.
outlook 13
ethics in
By Michael McDonald, PhD, CGA (Hon.)
THE DILEMMA:
Mark Chagall is a recently graduated CGA who has
been acting as the junior on an audit of Picasso
Industries with Hank Van Gogh as lead auditor. Mark
and Hank have been friends for years and are employed by Turner and Matisse, CGAs. The audit has
progressed very slowly and work is now three weeks
behind schedule. One of the partners, Bill Turner,
has asked Mark to explain the delays.
Mark is worried about what to say to Bill. The
problem, as Mark sees it, is that due to excessive
drinking, Hank has been very unfocused during the
audit. In fact, Mark covered for Hank at two client
meetings when Hank was too hungover to participate. Mark is worried that reporting this to Bill might
jeopardize Hank’s position and his own friendship
with Hank. What should Mark do? Further, if Mark
does report this to Bill, how should Bill respond?
The Situation
There are two decision-makers in this dilemma – the
junior CGA on the audit, Mark, and the senior CGA, Bill.
Mark feels loyal to Hank both as a professional colleague
and a friend. However, as a professional, Mark also knows
that the audit delays will likely negatively impact both the
client and the accounting firm. Mark has to decide what to
tell Bill about the lack of progress in the audit and Hank’s
role in those delays. As partner, Bill will have to decide
what to do with Mark’s information. Even if Mark is silent
about Hank’s role in the audit of Picasso, Bill still has the
problem of dealing with an audit that is progressing far
too slowly.
14 outlook
A Response
CGA member Cheryl Turcotte responded to this dilemma. In response
to whether Mark should report the
problems due to Hank’s behaviour, she
wrote:
I believe that Mark should let Bill know
that the audit has fallen behind due to
Hank’s obsession with the bottle. Not
doing so ‘enables’ Hank to continue
drinking and, of course, doesn’t solve
any of his problems. I believe that Mark
would actually be helping Hank by
bringing the problem to light and making Hank face it. Furthermore, neither
the client nor the firm should suffer for
Hank’s addiction.
I think that this recommendation
heads in the right direction. It responds
to the needs of the client and the firm.
Hank’s drinking is not a purely personal
matter, and telling Bill about the problem could also help Hank address his
problems with alcoholism.
But before he does this, Mark should
remember R105 “Criticism of a Professional Colleague” in the CGA-BC Code
of Ethical Principles and Rules of Conduct
(CEPROC), since the conversation with
Bill would be considered a criticism of
Hank. This rule requires Mark to first
discuss his issues with Hank and give
him an opportunity to respond. This is
only fair to Hank. The conversation may
also suggest other options to Mark,
such as letting Hank continue on the
audit with a warning to “immediately
clean up his act,” provided this does not
compromise the integrity of the audit.
However, Mark may decide that the
only acceptable option is the request
that Hank explain his personal issues
and their impact on the client’s audit
directly to Bill. Should Hank refuse to
own up to his problem, Mark would
then be obligated to inform Hank
that he is bringing the matter to Bill’s
attention.
In regard to what Bill, the partner
and senior on the audit, should do, Ms.
Turcotte said:
If we are to assume that Hank has
been a valuable employee in the past, I
believe that Bill should pull him off the
audit, insist that Hank seek professional assistance such as rehab and/
or Alcoholics Anonymous and (finally)
that he should let Hank know the company will provide him with a leave of
absence and keep his job open for his
return. Bill would be best served by letting Hank know that he must choose
between his job and his drinking.
Perhaps this will be Hank’s bottom and
focus
he will gladly take the chance afforded to
him to get back on track.
This is good counsel for Bill. By removing Hank from the audit, Bill is protecting
the client and the accounting firm. Further, by ordering Hank to seek professional
help, Bill is potentially saving a valuable
employee. Finally, Bill is dealing with
Hank in an intelligent and compassionate
manner. Of course Hank may not take the
opportunity and he may continue in his
addiction. In that case, Turner and Matisse
would have no option other than dismissing Hank.
What’s an Ethics Issue?
In her note, Ms. Turcotte went on to comment:
I do not normally react to these questions
but I honestly don’t think there are any
Michael McDonald is Professor
Emeritus of Applied Ethics at the W.
Maurice Young Centre for Applied
Ethics at the University of British Columbia. In 2006, McDonald received
an Honorary CGA for his extensive
work in accounting ethics education.
McDonald welcomes suggestions
for new cases and solutions for this
column.
other right answers. This seems to be more
a question of addiction than of ethics.
Furthermore, there are human rights
issues at hand where one can argue that
Hank is sick and should be given every
opportunity to ‘cure’ himself. In short they
should do all that they can to get Hank
back on track, but Hank needs to know
that it cannot be to the detriment of the
firm and its clients.
So what is an ethics issue? A useful way
of thinking about this is suggested by
my colleague, Professor Susan Cox, who
distinguishes between big “E” and small “e”
ethics issues. For CGAs, most big “E” Ethics
issues are defined in CEPROC. Then there
are the multiple small “e” ethics issues we
face every day, ranging from matters of
courtesy and politeness to issues of safety,
human rights and acting with decency
toward our fellow humans.
In both Ethics and ethics, there are many
black and white issues with clear right and
wrong answers. However, there will also
be grey areas where the decision-makers
have to make judgement calls. Here, good
people will sometimes disagree. Consider
what a difference it would make if Hank
was only a so-so employee or had been
previously warned about his drinking
problems. Those factors might shift the
issue, leading to a different decision.
The Next Dilemma
Lydia Ko, CGA, is employed by Maxim Accounting Services. Lydia has just returned
from an on-site meeting with a new client,
Tom Rex, the CEO of Dinosaur Construction
Ltd.
She tells her best friend and colleague
Francesca Paulo that it was a very disturbing and upsetting experience and that she
doesn’t want to return to the site. Lydia spoke
of sexist and racist remarks from the Dinosaur
Construction workers, which Tom summarily
dismissed with the comment “boys will be
boys.”
Francesca suggests that Lydia voice her
concerns to their boss, Henry Morgan, who
is also a CGA. Lydia is worried about Henry’s
reaction. Henry asked her to work with Dinosaur because she has an ideal skill set for their
business issues. He also mentioned that this
account is so substantial for Maxim that “we
can’t afford to lose it.”
What should Lydia do? If Lydia does voice
her concerns to her boss Henry, how should
Henry respond?
Please email us your thoughts on this ethical
dilemma. We accept anonymous submissions
provided we can verify that you are a CGA or
student. Send your feedback to
edowning@cga-bc.org.
outlook 15
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$
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16 outlook
$
Trends in Accounting
Software
More features and a move to the cloud
Accounting software continues to shift to “cloud computing,” which
will ultimately move accounting software into a new dimension.
Accounting in the cloud allows everyone in the organization to
have the same information at the same time, with a common set of
applications easily accessible over the Internet.
This will involve a major shift in how organizations deal with data. When accounting moves online, it does
not stay in its own cubicle and it naturally wants to link to everything else such as payroll, CRM, your website and your other business applications. When accounting is locked in a desktop application, only a few
people use it in the back office. By contrast, online accounting is multi-user, allows front staff in, and links
By Alan Salmon
outlook 17
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Trends in Accounting
Software
$
to all the other business systems. Online
accounting will evolve into broader business management.
Accounting in the new world will be
a hybrid. Many enterprises are already
looking beyond their private cloud and
adopting hybrid cloud computing, which
maintains the benefits of traditional servers and brings in the accessibility of the
public cloud (a public cloud sells services
to anyone on the Internet).
As accounting software vendors move
their products to the cloud, publishers are
also recruiting commercial hosting companies to provide hosted versions of their
client/server-based applications. With the
escalating popularity of tablet computers,
smartphones and other mobile devices,
vendors are also making it easier to manage cloud-hosted solutions using these
devices.
Accounting remains the interpretation
of the numbers, but the manual entry and
coding of transactions will be reduced
significantly over the next few years. A
perfect example of this is the new Wave
Accounting solution for small businesses.
Wave Accounting imports bank data
automatically from over 10,000 financial
institutions, thereby eliminating manual
data entry.
Online systems also facilitate Electronic Data Interchange between banks, suppliers and customers. A centrally hosted
application allows vendors to continuously link to more systems and reduce
manual coding. Only brand new transactions should ever have to be coded. Even
the smallest business will have a near
real-time view of their financials.
While the movement is definitely
gaining momentum, there will be serious resistance to doing accounting in
18 outlook
the cloud. Major concerns include data
security, backups, legal issues as to
who owns the data and concerns about
Internet shutdowns. Those adopting
cloud-based solutions should have a
clearly documented strategy for getting
their data out of the product should they
decide to make a change. One example of
a provider with excellent documentation
is Google’s “Data Liberation Front” (www.
dataliberation.org).
So, does this mean the end of traditional server-based accounting programs? No! They will certainly be around
for the foreseeable future. However, from
my perspective, the move to the cloud
will be a popular and practical choice for
many organizations.
Other trends in the accounting software world in 2012 include the following:
• Businesses no longer want a standalone system. CFOs realize that integration provides transparency across
multiple aspects of the enterprise, and
that having one system cover multiple
departments is a great way to achieve
that visibility. It is also simpler and
usually more cost-effective to maintain
one system rather than several.
• There is a desire to have standardized
databases and tight integration with
Microsoft Office for reporting in Excel
and integrating with Exchange and
Outlook calendars.
• Buyers want to see systems designed
specifically for their “unique” needs.
Stand-alone accounting systems are
inherently generic, and the specialtyspecific features of a system are typically found in the automation of other
$
processes (shop floor control, project
management, inventory control, etc.)
that are removed from accounting. As a
result, buyers seeking specialty-specific
solutions naturally shy away from
“generic” accounting applications and
implement complete packages.
• The emergence of Software as a Service
enables collaboration and communication that was either very difficult or
not achievable with older client-server
systems. This collaboration enables
companies to implement expansive
systems to tie the enterprise together
more easily.
• Decision-makers are opting for systems that support consumer technologies and trends (such as remote access
with mobile devices, integration with
social media, and open and standardbased systems). This will naturally
squeeze out horizontal accounting
systems because they can offer only
one function or cannot support the
“must-have” consumer needs.
$
Software vendors are reacting to these
trends by offering additional modules
and customizations built for specific
needs and narrow vertical markets. Their
customers then implement these packages, which enhance their generic, standalone accounting software, and usually
integrate to other applications. This is evident in the software accounting solutions
reviewed in this article.
This trend seems to vary with company
size. Most very small companies (with a
handful of employees and less than $1
million in annual revenue) looking for
a $200-$500 accounting system will opt
$
for generic packages such as QuickBooks
or Simply Accounting. However, once
buyers get above the $1 million to $2
million annual revenue range, they tend
to seek out industry-specific or integrated
solutions.
So, in summary, many businesses will
continue to use their existing serverbased systems. However, larger businesses
are increasingly moving some of their
accounting to the cloud and that trend
will continue to grow.
A SUMMARY OF ACCOUNTING
SOFTWARE TODAY
Here’s a short synopsis of the direction of
the major accounting software solutions;
a more detailed analysis can be found
online at www.cga-bc.org.
..............
AccountEdge
For 2012, the emphasis is on usability
and mobility. A redesigned Command
Centre, for example, improves the user
experience. The new Side Bar and additional menus make it easier to navigate
the company file, while retaining the
familiar AccountEdge flow chart layout.
Enhancements to AccountEdge Mobile
(iOS) allow mobile users to record sales
and activity slips, enter expenses and
contacts, and sync to the desktop version.
With the new mileage tracker (in both
AccountEdge and AccountEdge Mobile),
users can track the date, note the vehicle
used, keep trip notes, apply mileage to a
specific job and add mileage to customer
invoices when billing with reimbursable
expenses.
Additionally, AccountEdge has responded to customer requests to support
Many enterprises are
already adopting hybrid cloud computing,
which maintains the
benefits of traditional
servers and brings in
the accessibility of the
public cloud.
$
multiple billing rates and retainers. The
new billing rate matrix allows companies
that bill for their services to set multiple rates for the same activity, which
can be driven by customer or employee.
Retainer management allows attorneys,
graphic designers or any firm that works
on retainer to receive payments and add
expenses to a retainer account to pay bills
on behalf of clients. A minimum retainer
balance can be set and a single click is all
that’s needed to replenish requests and
print customer retainer statements.
$
. . . . . . . . . .....
Adagio
Adagio is finalizing its cloud implementation, making it simple to deploy a
hosted environment. Purchase Orders for
Adagio 8.1C will ship with the familiar
Adagio interface, providing a segmentleading purchase order tracking module
for both product and service companies.
Adagio ePrint automates report creation
and filing, including accounting copies of forms, without compromising the
audit trail. The addition of user-specified
colour display in all master file grids
allows companies to highlight customers,
items or orders, so that details about the
record can be known without having to
drill down into it.
Users may now add validation to their
optional fields and force entry of valid
values to virtually eliminate data entry
errors. Personalization options, such
as implied decimal entry for amounts,
continue to improve a system already
designed for high-speed data entry.
Not-for-profit organizations will appreciate a streamlined budget entry process,
improved departmental security and the
ability to email complete sets of financial
outlook 19
$
Trends in Accounting
Software
statements as an Excel Workbook in a
single click off the general ledger.
Buyers seeking specialty-
Blue Link Elite
shy away from “generic”
. . . ...........
specific solutions naturally
The Automated Report Management
module (ARM) is now part of the outof-the-box package. ARM facilitates the
automated dissemination of reports or
documents by email and/or fax to designated recipients, using easy to establish user-defined rules that dictate who
receives what, when and how.
Blue Link is continuing its tremendous
success within the medical and food
distribution industries through robust
lot tracking/traceability and expiry date
tracking. Bar code scanning is also fully
supported as the industry places increased
importance on warehouse automation.
A fully revamped version of Blue Link’s
apparel matrix now allows users to create
and manage many size/colour/style variations of inventory. This matrix is useful
for more than just the apparel industry.
Blue Link offers a hosted solution
of Blue Link Elite, priced per user per
month, and includes a private virtual
server environment with substantial data
storage in addition to the ERP data, and
(optionally) Microsoft Office Standard
Edition.
In early 2013, Blue Link will introduce a
new user interface upgrade with advanced
Office 2013-style ribbons.
accounting applications
. . . ...........
Connected Accounting & ERP
Connected will be adding mobile capabilities, enabling users to securely access
their accounting information and enter
data from any portable device (including
20 outlook
and implement complete
packages.
$
iPhone, iPad, Blackberry and Android),
with the initial focus on iOS devices. This
platform-independent approach will help
managers check customer contact details
and account balances/history, as well as
other tasks, such as reprinting invoices,
from anywhere that they have an Internet
connection. Businesses looking to incorporate the convenience of electronic payments as part of the regular cheque run
will have this capability in 2012, saving
both time and money for the Accounts
Payable department. Manufacturers will
find efficiencies in the warehouse with the
ability to use bar coding to scan inventory
in and out by lot or serial number.
. . . . . . . . . . . ...
Microsoft Dynamics
$
Microsoft Dynamics NAV 2013 and
Microsoft Dynamics GP 2013 will be
released in the last quarter of 2012, adding new cloud deployment options and
capabilities while enhancing the core
functionality of the programs.
Businesses can choose to host their
business management software in their
own data centres or in Microsoft’s
facilities, and customers can license the
software through an upfront payment
or a monthly subscription fee. Microsoft
Dynamics GP remains a great choice
for companies outgrowing their entrylevel accounting software and Microsoft
continues to enhance the migration
experience for customers coming off
solutions like QuickBooks. With its over
200 certified add-on solutions, Microsoft
Dynamics NAV remains the preferred
choice for small and mid-sized businesses
looking for deep vertical functionality
within their specific industry.
$
Sage 300 ERP
(formerly called Sage Accpac ERP)
Sage expanded mobile access with the
launch of Sage 300 ERP 2012 in September 2012. It will deliver a better
customer experience through productivity enhancements that simplify business
processes and seamlessly integrate with
new web-based services to enable a mobile workforce.
The latest version will improve user
experience with Sage Visual Process
Flows, which provides a graphical, process-oriented interface that can increase
productivity, and Sage Advisor Update,
which enables businesses subscribing to
a Sage Business Care Plan to keep Sage
300 ERP current with the latest updates
and enhancements. Improvements to
order entry for mobile salespeople and
back-office personnel accelerate the sales
process and make it easier to accept
credit card payments using Sage Payments. New connected services, such as
Sage Sales Tax and Sage CRM Mobile Access, expand and enhance Sage 300 ERP
functionality using seamless integrations
that can extend over the web and create a
mobile workforce.
..............
Sage BusinessVision
Changes were made to simplify the point
of sale process, including a new touch
screen compatible interface, the option
to hold a sale-in-process and reprint
sales receipts, more straightforward sales
returns, the ability to print gift receipts
and the option to select a different sales
person with each sale. There are also
improvements to Canadian payroll reporting, specifically the ability to modify
$
T4 values, print and electronically
file T4 and T4 summary reports, and
electronically file form T5018 for vendors. New tools allow users to define
provincial-specific rules for charging
either the full HST rate or just the GST
portion of the sales tax, simplifying
sales tax calculations for sales and drop
shipments.
$
... . . . . . . . . . . .
QuickBooks
Intuit Canada is focusing on delivering a clean and simple user experience
across an increasingly broad range
of small business financial management software products. With the
re-imagined and improved design of its
flagship QuickBooks desktop product
in 2013, Intuit Canada has signalled
a renewed emphasis on both robust
functionality and ease of use. A suite of
enhancements in QuickBooks Accountant 2013 will save time for accountants. These include a new batch enter
transactions feature that lets accountants enter multiple transactions into
QuickBooks in a single step, and a new
feature that allows accountants to send
general journal entries to their clients
with the click of a button.
Intuit Canada is also staying ahead
of the curve in the market shift toward
digital and connected services with the
recently launched QuickBooks Online
offering that makes it easy to manage
critical business tasks on the go. This
shift to the online world is also seen
in Intuit’s push to expand its payment
offerings, such as Intuit GoPayment,
which allows small businesses to take
credit card payments on an iPhone or
Android mobile phone. Another payment solution, Intuit Merchant Service
Center for QuickBooks, provides a
credit and debit payment solution for
small business owners who typically
invoice and receive payments by mail or
phone.
. . . . . . . . ......
Sage 50 Accounting–
Canadian Edition
Formerly called Simply Accounting,
Sage 50 Accounting 2013 (available in
October 2012) continues to build upon
its more than 25 years of experience to
help Canadian businesses manage their
business and financial information more
easily, remain accurate and compliant
with payroll, and glean relevant trends
to make insightful decisions to grow
their business.
New features of Sage 50 will help
users comply with payroll reporting
requirements. Sage 50 records, tracks
and enters the total insurable vacation hours directly onto the Record of
Employment form that is created within
the solution. Other new payroll tools
will make it easier to pull up individual
paycheques and to post paycheques into
future years. Users will also find added
convenience with electronic payment
notifications to vendors and the ability
to record, process and track credit card
payments in U.S. or Canadian dollars.
Improvements have also been made to
Sage 50 Business Intelligence with the
introduction of a Report Designer and a
Trends Forecast dashboard. Lastly, a minor tweak that everyone will appreciate
is a new and efficient five-click installation process.
outlook 21
$
Trends in Accounting
Software
SYSPRO
SYSPRO released a Point of Sale
system earlier this year. This scalable web-deployed solution handles
the customer-facing front-end of
your business. Developed using the
Microsoft® .NET™ framework, it has
a flexible n-tier architecture that
enables a high degree of extensibility
and interoperability. Its ‘always-on’
design means the store can continue
to operate even if the connection to
the central database is lost, delivering
real-time operations when and where
they matter most.
SYSPRO has also developed preconfigured process patterns. The
SYSPRO Process Modeling system
produces a baseline model of business
processes and seeks to integrate them
to SYSPRO’s predefined architecture.
There are two very basic but compelling reasons to start with a predefined
model. First, the models reflect best
practice in a particular industry. For
example, there could be eight scenario
patterns of how to capture a requisition and you could choose the scenario that most closely matches your
process and then configure the system
to meet any additional requirements.
Second, the business will know upfront what the system can and cannot
do and use that as a basic point from
which to start. This way, a business
has a blueprint of how its enterprise
software is mapped to its business
processes, enabling organizations to
review and re-engineer processes as
and when needed.
22 outlook
Software vendors are
focused on making
their products more
user friendly, and the
enhancements that we
will see in 2012 and 2013
continue that trend.
....... . . . . . . .
Alan Salmon is a leading authority on
accounting technology. He is the CEO
of K2 Enterprises Canada, a worldwide
consulting firm providing technology
training to accountants. In addition to
his work with consultants, accountants
and software companies in both Canada and the U.S., he is the chairperson
of the Accounting Technology seminar
series. He can be reached by email at
alan@k2e.ca or by visiting www.k2e.ca.
To read Alan Salmon’s detailed review
of the latest accounting software,
please visit the CGA-BC website at
www.cga-bc.org.
Wave Accounting
This is one of the newer players on
the scene. Developed in Canada, Wave
Accounting is a free online doubleentry accounting app designed to
make it easy for small businesses to get
their books in order and get rid of the
shoebox.
How does Wave get rid of the shoebox? Wave Accounting imports bank
data automatically, from over 10,000 financial institutions, eliminating manual
data entry. The application is simple
and easy to understand, but under the
hood, it is full double-entry accounting,
with reports, journal transactions and
more.
For business owners that need to
track multiple businesses, Wave has
an elegant solution that allows you to
switch between tabs so you can see all
of your businesses from one screen. Additionally, you can easily separate business and personal expenses to provide
more accurate reporting.
At time of writing, Wave had already
surpassed 350,000 users, after being on
the market for less than two years. Wave
Payroll, a full-featured payroll solution,
integrates to Wave Accounting or can
be run on its own.
Summary
Accounting software in 2012 is in a
stable environment and radical changes
are not on the horizon. Software
vendors are focused on making their
products more user friendly, and the
enhancements that we will see in 2012
and 2013 continue that trend.
CGAs are accomplished professionals. In this feature, we highlight members who land major new
positions, get promoted or achieve significant professional success. Please share your news with us.
keepingTabs
>
CGAs in the
News
The CGA-Canada 2012
Reviewer’s Forum will be held
November 21–23, 2012, at the
Westin Harbour Castle Hotel in
downtown Toronto. For more
information, visit ppm.cgacanada.org.
International
School in Hanoi, Vietnam,
one of two
United Nations Schools in the world.
Reid Hurst Nagy Inc.’s Daniel
Dong, CGA, has been promoted to Manager of Client
Eileen Reppenhagen, CGA,
was featured in The Globe and
Mail in an article that examined social media usage and
strategy. The article, titled ‘Many
professionals missing out on
social media opportunity,’ was
published on July 5.
>
Members on the
Move
Len Archer, CGA, has been
appointed Director of
Finance for the United Nations
Victoria at the age of 93. Mary
served as CGA-BC’s President
for 1988 and she was one of
its most active representatives
at the local, provincial and
national levels.
Helen Knowles, FCGA,
passed away on July 6 at the
age of 89. In 1985, she became
the second woman to be
elected president of the As-
Brian Teed, CGA, has been
appointed Chief Financial
Officer for Digagogo Ventures
Corp., a provider of information and marketing communications technology based
in Santa Monica, California.
Brian is also founding partner
of Teed & Company, based in
Surrey.
>
The Certified General Accountants Association of Canada has
donated $50,000 to a research
centre at the Telfer School of
Management at the University
of Ottawa. The CGA-Canada
Accounting and Governance
Research Centre is expected
to invest in research over the
coming year on corporate
governance, risk management,
business and finance.
Charles Reid, CGA, has been
appointed President & CEO
of BC Hydro.
He joined BC
Hydro in 2008
and previously
served as the
company’s
Executive Vice
President,
Finance and Chief Financial
Officer.
Services. He obtained his CGA
designation in 2012.
Tina Peters, CGA, CGA-BC’s
Director, Public Practice
Services, has left the
Association after 15 years to
return to public practice in
Kamloops.
In Memoriam
Anthony “Tony” Ducie,
FCGA, passed away on August
1. Tony was a Past-Chair of
CGA-Canada.
Mary Pattison, FCGA, passed
away on September 4 in
sociation. She was also named
to CGA-Canada’s national
celebration of 100 CGAs Who
Have Made a Difference.
We appreciate your contributions to ‘Keeping Tabs.’ If you would like to submit
news or updates concerning yourself or a CGA you know, please email the details to:
outlook@cga-bc.org.
outlook 23
feature
“Everything I have in my life I owe to Laura, and I hope that one day what I have done in this long
weekend will come back in the form of a life-saving gift for her.” Terry Craig, CGA
Terry Craig, CGA, shows that organ donors can take on the world’s
most challenging athletic events
By Lynn Sully
A True Ultraman
>
Like most British Columbians, you probably spent the August long weekend enjoying
the sun, watching the Olympics and relaxing with family and friends. Terry Craig, CGA,
spent his long weekend a little differently from the rest of us.
As one of 31 participants in the three-day Ultraman Canada Championships, he
swam 10 kilometres, cycled 420 kilometres and ran 84 kilometres – all in under 34
hours. And the 45-year-old did all this with only one kidney, having donated the
other to his wife Laura seven years ago. Craig’s goal was to raise awareness that organ
donors can continue to live life as fully as everyone else.
Craig’s Ultraman was a gruelling event, made more complicated by tendonitis,
headwinds, significant elevation gains and record high temperatures in the Penticton area. “However, at no point did I ever question whether I would be able to
finish,” he says. “Having my wife Laura in the crew vehicle, and being able to see her
regularly throughout the race was my inspiration. I could keep pushing and I knew I
could do it.”
Craig has participated in a handful of other triathlons. But while he says he completed these other races for himself, the Ultraman was different. “I did this for Laura
and for everyone who suffers from kidney disease, which is a debilitating, life-threatening and exhausting condition. I want people to know that you can make a huge
difference in someone’s life by donating a kidney.”
The road to Ultraman
When you talk with Craig, the conversation circles back continually to his wife. Laura
and Terry met in 2003; at the time, she had polycystic kidney disease and knew that
she would eventually require a transplant or dialysis.
“When I met Laura, she was just starting to feel the effects of the disease,” remembers Terry. “She had been working with autistic children and waitressing, but she
eventually became too weak to work and had to give up her jobs.”
Unknown to Laura, Craig began researching whether he was a potential match
24 outlook
as an organ donor. Although he
originally thought that having
colitis would make him ineligible,
he discovered that he was a match
for Laura and that he met all the
physical criteria.
The two were married in September 2005, after which Craig
informed Laura that he was a
potential match. Two months later,
the newlyweds came to Vancouver
for the transplant operation. “It
was only once they wheeled Terry
out for the operation that I finally
believed that this was happening,”
says Laura.
Craig’s transplanted kidney
began working in Laura right away.
Within a few weeks, he was up and
about and he returned to work five
weeks later.
“Donating a kidney to Laura was
a phenomenal experience,” Craig
says. “It was incredible to see her
going from being so sick to being
able to do the things we all take for
granted.”
“Kidney disease is subtle,” explains
Laura. “You’re tired all the time, but
you just assume that tiredness is
normal. After the transplant, everything was so vibrant. Food tasted
amazing. I had so much energy.
I hiked up a mountain in Banff
eight months after the surgery, we
travelled to London, I started working full-time again and I was able
to do things I’d never been able to
do – like going for bike rides with
my kids.”
Unfortunately, after four years of
living life to the full, Laura became
ill with a serious virus. While fighting
the virus, her body recognized the
donated kidney as a foreign object.
The kidney began to fail, and a yearand-a-half later, it had deteriorated
to the point where she needed to
go on dialysis. She expects to have
PRI
DE
1
E
O
F
F ON
O
OF
ONE
1
outlook 25
feature
Learn more
Visit www.bethekidney.com
to read Terry’s day-by-day recap of the three-day Ultraman
event and to learn more about
how you can make a difference through organ donation.
Go to www.transplant.
bc.ca/living_donation.htm
for more information about
being a living kidney donor.
If you haven’t already
registered that you would
like to donate your organs
after your death, go to
www.transplant.bc.ca to
complete the online registration form.
Your business or organization
can help, too. One option is
to allow employees to take a
leave of absence to be a living
donor, as is done by Novartis
Pharmaceuticals and provided
for in the collective agreements
for B.C.’s public school teachers,
public sector employees and
employees of the Provincial
Health Services Authority. You
can also register your business with EI’s SUB program
to provide a top-up salary to
employees who take time off
to be a living organ donor. See
www.servicecanada.gc.ca/
eng/cs/sub/060.shtml for
more information.
26 outlook
to wait for 10 years for a cadaver
kidney, as the wait list in B.C. for
those with her blood type tends
to be longer than the norm of six
years.
Laura is philosophical about
the setback, but it’s clear that it
exerts a heavy emotional and
physical toll. When you have
kidney failure, she explains, your
battery doesn’t recharge and it
can take a long time to recover
from even basic tasks. It means
that she tires easily – and that she
is now more of a cheerleader for
her husband and two children
rather than participating alongside them.
As Laura and Terry grappled
with the effects of Laura’s kidney
disease, Craig felt a sense of
responsibility to raise awareness
about the value of organ donation and how it can transform the
lives of both the recipient and the
donor. He says that he wanted
to show people that living organ
donors are not limited by the
donation and that they can continue to live a full and healthy life.
The ultimate
physical challenge
“I wanted to do something that
would really stand out, so that
people would take notice,” says
Craig. He crossed events like
marathons and triathlons off his
list, since thousands of British Columbians will participate in these
endurance events each year.
He wanted something uniquely
challenging, and he found it in
the Ultraman Canada Championships, open to only 31 invited
participants. If he could do the
Ultraman, Craig told himself, he
could show the world that living
organ donors can do anything.
Training for an Ultraman is like
heading into unknown territory.
How do you prepare your body
for three full days of physical
activity encompassing longdistance swimming, biking and
running? Further, given how few
people complete in Ultraman
events (there are only two other
Ultraman races held each year, in
Wales and Hawaii), it’s not like you
can easily find training programs
or meet up with training partners
at your local running store. And
when you’re a CGA who manages a busy practice in Osoyoos
and values time with his family,
how do you carve out the hours
needed to prepare physically for
an event of this magnitude?
Dave Nielsen, CGA, a partner
in Schmitz, Anderson & Nielsen
in Prince George, completed an
Ironman in 1992, and he sheds
some light on the training and
personal sacrifices required to
train for an endurance event.
Each day, he says, requires training for two of the three activities.
He would get up at 6:00 for a
swim and then do two hours
of cycling or running at night.
Nielsen admits that finding the
time for training was particularly
difficult during tax season.
“The training is as much mental preparation as physical,” he
says. “The mind has to know that
you are physically able to do it.”
Craig also insists that endurance events require as much – if
not more – mental stamina as
physical stamina. He claims that
shorter races are the true test of
your physical capabilities, and
that endurance events are more a
test of your emotions.
“Doing something like the
Ultraman is being able to say, ok
this is what I need to do to get
through the next 12 hours,” says
Craig. “It’s the same thing with
work and those 12-hour days dur-
ing tax season, when you have to
figure out how to pace and push
yourself to get through the day.”
For Craig, the longer distances
are a real test of patience and
perseverance. “And that’s where
I look to Laura for inspiration. For
her, every day is an endurance
test. That’s why I have her picture
on my bike – to remind me of her
courage and strength.”
Eliminating the
financial costs of
organ donation
In addition to demonstrating that
organ donors are not physically
limited by their donation, Craig
wants to reduce the financial
barriers that might prevent
people from donating an organ.
These are the costs associated
with travel, accommodation and
medical expenses, as well as the
lost income during the up to
eight-week recovery period.
Eileen Reppenhagen, CGA, says
that under the Income Tax Act,
both the organ donor and recipient – as well as one additional
individual for each person – may
be able to claim reasonable travel
and medical payments associated with organ transplants as a
medical tax credit to reduce taxes
payable.
This doesn’t fully address the
financial issue, however, as it does
not reimburse donors for their
expenses. Lorraine Gerard, Executive Director of the BC Branch of
the Kidney Foundation of Canada,
believes that in an ideal world,
organ donors would not be out
of pocket for any expenses associated with donation.
In 2006, the BC Branch of
the Kidney Foundation and BC
Transplant launched an innovative pilot program to cover the
expenses of organ donors –
“Doing something like the Ultraman is being able to say, ok this is what I need to do to get through
the next 12 hours. It’s the same thing with work and those 12-hour days during tax season, when
you have to figure out how to pace and push yourself to get through the day.” Terry Craig, CGA
including travel, accommodation,
meals and some loss of income.
Organ donors were reimbursed
for 50 per cent lost wages (up to
$350 per week) during the period
of their operation and recovery.
“We knew it was the right thing
to do, but we wanted to launch
the pilot project to see if it could
be sustainable,” says Gerard. “We
also wanted to create an equitable program that would appeal
to other jurisdictions and encourage a more consistent approach
to expense reimbursement across
the country.”
The pilot project was a definite
success, and in 2011 it became
fully funded in B.C. by the Provincial Health Services Authority. As
of April 2011, there are reimbursement programs in all provinces
(often modelled on the B.C. pilot)
so that anyone donating a kidney
(or portion of their liver) to a
Canadian recipient is eligible to
make a claim for reimbursement.
B.C. recently increased its loss of
income support to 55 per cent
of net income to a maximum of
$400 per week. To date, more
than 600 donors have been reimbursed for expenses associated
with donating an organ to a B.C.
recipient.
While it’s difficult to prove a
direct correlation between the
reimbursement program and an
increase in the number of living
organ transplants, Gerard says
that the program has enabled donors to schedule surgeries around
the best time for the recipient,
rather than when it is financially
convenient for the donor.
The next step, according to
Terry Craig, is to find ways to
cover all of a donor’s lost wages.
He would like to see businesses
and organizations step up and
do what they can to cover
these costs. This past spring he
registered his business, Kemp
Harvey Kemp, through Employment Insurance’s Supplemental
Unemployment Benefit plan.
Through this top-up program,
any employee at Kemp Harvey
Kemp who takes time off to be an
organ donor will receive up to 95
per cent of their salary for up to
six weeks.
He wants other businesses
to get on board, and he will
be approaching local service
organizations to promote the
idea. Craig would also like to see
the federal government provide
businesses with a tax credit or
grant in exchange for paying their
employees’ salaries while on leave
to donate an organ.
Craig points out that organ
donations are far more costeffective than dialysis. In B.C., he
says, the waiting list for a cadaver
organ donation is six years; the
annual cost of dialysis for a patient with end-stage renal disease
is $60,000. A transplant, on the
other hand, costs around $23,000,
with ongoing annual costs of
$6,000 for anti-rejection drugs.
“Over a six-year period, we’re
comparing a cost of $360,000
for dialysis to $60,000 for the
transplant option,” he says. “Organ
transplants are incredibly costefficient, and I think that government should be doing everything
it can to offer incentives or grants
to individuals, businesses and
organizations to encourage
donation.”
Showing it can be
done
On the third and final day of the
Ultraman event, Craig completed
the equivalent of a double marathon in just under 11 hours. He
crossed the finish line accompanied by Laura and the cheers of
hundreds of supporters, many
wearing yellow “be the kidney”
shirts designed and hand-painted
by Laura and Haley, Craig’s
14-year-old stepdaughter.
“The highlight of the event
was holding Laura at the end,” he
says. “It capped off an incredibly
emotional three days – this was
the most emotional race I’ve ever
done.”
A few days later, Craig was
quoted in the Penticton Western
News as saying “I always just have
to look to my wife for inspiration,
because she has to do the same
thing every day. She doesn’t have
a choice, and I felt the same way.
I just didn’t have a choice for her
and for everyone who suffers
from kidney disease, this was the
difference I can make in their
lives.”
As Laura says, “People get
scared that their life might be
limited if they donate an organ.
But Terry shows us all that you
can live a full, active and insane
life with just one kidney!”
outlook 27
feature
“If you think rates can’t go any lower, I can tell you that current yields to maturity for Swiss
bonds at five years or less are actually negative. Although this is an unlikely scenario for
Canada, it’s very likely that rates will remain historically low in the near future.” Steve Zadra
GICS (Guaranteed
Investment
Certificates)
GICs offer yields usually favourable
to Government of Canada bonds
and can be a good option for fixed
income investors. With potential government guarantees, this is an attractive choice in lieu of Canada bonds.
Corporate Bonds
Income options in a low interest rate economy
By Steve Zadra
A New Normal
>
28 outlook
Interest rates have been at historical lows for many years now, with 10-year Canadian government bonds breaching the 1.65 per cent level this June. Low rates are
supposed to boost the economy by making lending cheaper and stoking economic
activity. However, there is a growing countereffect to savers who are earning much
less income than in the past. This is particularly troubling for the growing population
entering, or already in, retirement.
And if you think rates can’t go any lower, I can tell you that current yields to maturity
for Swiss bonds at five years or less are actually negative! Although this is an unlikely
scenario for Canada, it’s very likely that rates will remain historically low in the near
future.
So what are investors to do? Over the past few years, the managers of the Canada
Pension Plan have increased exposure to global real estate and infrastructure assets.
Some Canadians have followed suit by looking at U.S. real estate options, but for many
investors the costs and time are not worthwhile, nor do they have the expertise or
buying power of the CPP or other pension funds.
There are a number of other options for individuals seeking passive income.
Although the list below is not exhaustive, it does summarize some of the income
investments that are available.
With the high demand for the safety
of Government of Canada bonds,
good quality corporate bonds (also
referred to as “investment grade
bonds”) may offer a nice premium in
yield to government bonds.
Convertible
Debentures
Debentures, depending on who has
issued them, will likely have more risk
than a traditional corporate bond,
but may provide nice yield enhancement in a diversified income portfolio.
Current yields tend to range from
four to seven per cent depending on
the issuer and term. The conversion
feature can also provide price upside
if there is significant appreciation of
the underlying common share.
High Yield Bonds
High yield bonds, also known as
junk bonds, are less developed in
Canada than in the U.S. Canadian
investors can choose U.S.-based high
yield bond exchange traded funds,
providing diversification along with
currency hedging.
Preferred Shares
This investment option offers
the attraction of the dividend
tax credit for non-registered
accounts, thereby potentially
providing higher after-tax returns than equivalent-paying
interest investments such as
bonds. With the fear of interest rate volatility, many new
preferred shares are issued
as five-year rate resets. These
preferred shares give investors
some protection to interest
rate risk over the long term as
opposed to the traditional perpetual preferred. Rates offered
tend to be in the 4.0 to 5.5 per
cent range depending on the
quality of the issuer.
REITS (Real Estate
Investment Trusts)
REITs are publicly traded
vehicles offering diversified
exposure to various forms of
real estate, including residential, commercial, industrial and
retirement properties. This has
been a fabulously performing
sector as REITs have benefited
from lower mortgage costs
due to declining rates. Yields
are approximately five to
seven per cent.
operators. For example, A&W
Canada restaurants pay a royalty on their sales that flows to
investors via the A&W Revenue Royalties Income
Fund. There are a handful of different royalties
that provide current
income of approximately
six to seven per cent.
Equities
Although investors might not
think of equities when they
think of income, many companies that have stable businesses provide attractive and often
growing dividends. Sectors
such as utilities, pipelines and
telecom are excellent places
to look for good income yields.
Annuities
Annuities are offered through
insurance companies and can
provide either fixed or variable
amounts of lifetime income
depending on the product
chosen.
Each income investment described above has various risk
and reward characteristics that
should be considered carefully
and in consultation with a
professional advisor.
Royalties
The most common public
royalties tend to be royalties on sales from restaurant
Steve Zadra is an Investment
Advisor with National Bank
Financial.
outlook 29
feature
“Life-cycle costing is an example of that, where you look at all the costs and all the benefits too.
It’s a matter of looking at a complete picture.” Corey Sue, CGA
Life-cycle assessment helps you see the true long-term
costs of an investment
By Nina Winham
Taking it All into Account
>
30 outlook
You’re helping your CEO with a decision about a new piece of equipment. Do you
purchase the cheapest option or the most energy efficient? Is there a “best practice”
way to decide?
Corey Sue is a CGA with a 20-year career spanning a variety of sectors – from hospitality to higher education to high tech. He says it’s true that operating costs such as
electricity consumption were traditionally overlooked when making new investment
decisions, but this is changing.
“It’s not always consistent, but it’s increasingly important to really see what the dependencies on a decision are, and include as many bases as possible in the decisionmaking process,” he says. “Life-cycle costing is an example of that, where you look at
all the costs and all the benefits too. It’s a matter of looking at a complete picture.”
Life-cycle assessment (LCA) is increasingly being used when organizations want
to understand and track their environmental impacts, such as carbon emissions. But
it goes beyond just operating inputs (such as energy) and outputs (emissions). A full
LCA considers social impacts (such as human toxicity, working time, accidents) and
also the costs and impacts incurred both during the production of a product and its
eventual demise (including recycling costs). It’s a full-picture analysis of how a product or service will impact what is around it.
LCA is a process for making decisions based on the full costs that will be incurred.
In our simple example above, the cost of energy use over the lifetime of a lessefficient machine may be so high as to eliminate any upfront purchase cost advantage. (For example, BC Hydro estimates that the purchase and installation costs of a
compressed air system represent just 12 per cent of life-cycle costs, while electricity
consumed accounts for 76 per cent. Efficiency pays.)
Rick Truong, a Key Account Manager for BC Hydro who specializes in supporting
municipalities, says his clients are increasingly interested in understanding all costs
– including the social and environmental – of new decisions. “There’s
always some pressure to gravitate
towards projects that are going to be
lowest in [upfront] cost,” he says. “But
municipalities are becoming more
sophisticated when they’re assessing projects. Projects are assessed
based upon various viabilities, from
maintenance costs through to social
benefits and political goodwill. Simple
payback is one quick way to make a
decision, but if it is the only tool used
then it could cost the company in the
long run.”
Truong says a “perfect storm” of
factors over the past few years has
nudged LCA increasingly to the
forefront. Electricity rate increases,
the economic downturn, increasing
demand for good environmental
practices and the requirement for
municipalities to reduce their carbon
footprints have created a climate
where understanding the true,
holistic costs of decisions is a must.
At the same time, the practices and
tools available to make such assessments have become more robust and
accessible.
Often, however, a full picture is not
available unless it is one person’s job
to bring the pieces together. Truong
points to BC Hydro’s successful Commercial Energy Manager program,
which supports the creation of these
new roles in business and municipal offices as a factor in driving the
adoption of LCA. “Energy Managers
have been trained and encouraged
to assess projects on a life-cycle cost
perspective,” he says. “The financial
folks may understand the concept [of
LCA], but they may not fully understand the scope of benefits and costs
>
Corey Sue, CGA, says more
businesses are using life-cycle
assessments when making
major financial decisions.
Mark Your
Calendar
Member Appreciation
Event on December 5
Investing and Doing
Business in the USA
that need to be looked at.
Energy Managers are able to
collect that information and
feed it into the management
team.”
Truong says such assessments are important not only
for general decisions, but
also to assess the value of
investing in energy-efficiency
projects, where reducing costs
over time may be the main
benefit.
As LCA is increasingly put
to use, there are growing
opportunities for training, support and learning from others.
A UBC Continuing Studies
course on LCA bills itself as
“a practical introduction to
the science of sustainability.”
The Green Design Institute at
Carnegie Mellon University
offers free online software for
LCA. An interdisciplinary “Life
Cycle Assessment Alliance” at
UBC is working to understand
and improve life-cycle analysis, and interested parties can
ask to be part of their email
discussion group. Even the
UBC Thunderbirds have used
LCA to assess the impact of
sporting events.
Business decisions have
become more complex as
people start taking into account environmental and
social impacts. Understanding
the tool of life-cycle assessment, so that all costs are
accounted for, is one way to
make sure today’s decisions
still look good when viewed
10 or 50 years down the road.
This full-day seminar features
eight presentations from lawyers,
accountants, lenders, brokers and
logistics experts on cross-border
issues with the United States. This
seminar is invaluable for those
who are considering investing or
doing business in the U.S., or who
advise clients on their cross-border
issues.
You’ll learn about several important facets of doing business in the
U.S., including:
Expanding Your Business into
the United States
The seminar will outline the
immigration, taxation, business
planning, customs, and marketing
issues that should be considered
before expanding into the United
States.
Investing in U.S. Real Estate
Presentations will cover potential
investment and tax consequences
of a real estate investment, as
well as liability protection, rental
use of the property, and foreign
exchange issues.
IRS Offshore Voluntary
Disclosure Initiative
The speakers will explain the
common disclosures required
for Canadians and outline the
potential penalties involved for
non-compliance.
Date:
Time:
Cost:
CPD: Location:
December 5, 2012
8:00 am - 4:30 pm
$201 + HST
for members,
$241 + HST
for non-members
7 CPD hours
Executive Airport
Plaza, Richmond
outlook 31
feature
“The real reason you are speaking is to affect people’s opinions and behaviour, and the facts simply
serve to back you up. So you have to start your writing process by asking ‘what do I want people to
do or think after they have heard my speech?’” Chris Molineux
Create supporting
materials
Know what you want to communicate
Before You Even Say
a Word...
By Chris Molineux
>
It’s Christmas morning. The perfect Christmas morning. You are the first one in the
house to wake. You wrap yourself in the coziest of robes and pad your way quietly
downstairs where the young light of the new day reflects off the fresh snow and fills
your living room with a magic glow. Then you realize ....aaah! ....nothing has been
done yet! You still have to go out and buy meaningful gifts, find the perfect tree,
decorate the house, bake up a storm – and wherever will you find a turkey! Ruination!
Why didn’t you prepare?!
Showing up to give a speech without proper preparation can yield equally mortifying results. Simply knowing your subject and organizing a coherent order for your
speech will not ensure success. The following is a very brief summary of the things
you can do to help you truly prepare so that your speech will be easier to deliver and
far more effective.
Determine what effect you are trying to produce
I cannot overemphasize the importance of this point. So often when we put together
a speech, we assemble it the same way we would write an essay, with an introduction, main points and conclusion. What this little grocery list fails to take into account
is the reason(s) why you are making the speech. If it was simply to impart raw facts
you could email a factsheet to your audience.
The real reason you are speaking is to affect people’s opinions and behaviour, and
the facts simply serve to back you up. So you have to start your writing process by
asking “what do I want people to do or think after they have heard my speech?” The
speech content should be determined by this and the motivational aspect should be
woven into the entire structure rather than briefly summarized in your conclusion.
Chris Molineux was educated in Canada and the U.K. and has had over 20 years of experience as a stand-up comedian performing at Just for Laughs and working with the likes of
Jerry Seinfeld, Jim Carrey and Ellen DeGeneres. He worked as a staff writer at Electronic Arts,
owned his own event organizing company and, most recently, he provided the voice that
began the 2010 Olympic opening ceremonies. Chris has been working as a public speaking
and communication skills coach since 1998 and his unique one-on-one approach offers immediate and practical solutions in the areas of public speaking and teambuilding.
32 outlook
If you are making an important
presentation, try to make sure that
your audience receives information
in advance about you and/or your
topic. Conferences often have websites and organizers will distribute
printed matter in advance; make
sure you take advantage of this.
Sometimes having printed material
distributed immediately beforehand
is useful as well. Things that can be
read are things you might not have
to say, and it gives your audience
something to refer to before, during
and after your speech.
Know your room
In a perfect world, every situation
we speak in would be problem free.
But until that perfect world arrives,
it is best to be aware of all the little
things. Make sure your sound, sightlines and lighting are the best they
can be. Simple things like making
sure everyone has a clear view of
you and that you are well lit and
amplified will help your audience
focus on you. Also, check that you
have everything you need – from
a podium to a glass of water – and
double check anything that’s
plugged in. The last thing you
want is to have to play MacGyver
in the middle of a keynote address
to fix a technical glitch.
Know your crowd
Get a sense of who your crowd is
beforehand and see that they are
seated to maximum advantage.
If you are in a big room that isn’t
very full and people are all pressed
to the back or scattered around,
try to get them to gather together
near the front. People are usually
happy to co-operate and it can
make a world of difference. Arrive
at the room well in advance of your
speech time and, if possible, mingle
with the crowd so you can get a
sense of them and they can get
familiar with you. Pay attention to
how they react to other speakers
so you know what you can do to
make the most of the situation.
Take care of
yourself
So obvious, yet so important.
Make sure you are in a good
place when you finally hit the
podium. The night before, keep
your tequila shots to a minimum and get a good night’s
sleep. Wear clothes that make
you feel good about yourself
and don’t study your script
after you arrive in the room
where you are presenting – it
only ties you up in knots. Keep
notes with you if needed, but
stay casual and relaxed before
you start so that your mind and
body are best prepared for the
task at hand.
Give – and get –
a good
introduction
It is often a good idea to
mention your main motivating theme(s) in your intro. As I
mentioned before, people often
save their main point as a sort of
“surprise” at the end. It makes far
more sense to do the opposite
www.compuwork.net
and include it in your introduction. That way people can orient their minds to fit with your
ideas throughout your entire
speech. Also, consider exactly
how you will be introduced and
try to make this work to your
benefit. At times, the MC for
an event is preset and inflexible, but it will raise your level
of importance if you can have
the president of the company
or another high-profile person
introduce you to the crowd.
Your audience will have their
eyes on you and want to know
what you have to say before
you even say a word.
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outlook 33
“Peak performance is difficult to achieve when partners or employees do not have absolute confidence
in the leadership and direction of the firm.” Steve Erickson
publicpracticeEdifier
Partners, Get on the Same Page!
Improve partner relationships and watch your firm’s performance and
profits soar
By Steve Erickson
I
hear a very common concern from
employees in many of the firms I visit.
“The partners are not all on the same
page. In fact many of the partners
openly disagree or criticize other partners.”
If you were an employee in one of these
firms, how would you feel? Maybe a little
fearful or concerned about the future and
how partner differences might negatively
impact your career?
Your staff will leave if they think their
future is in question at your firm, and they
will not give your clients the level of service
you expect. The old saying “Happy people
work better than unhappy people” applies
to employees as well as partners.
I have surveyed more than a thousand
partners and I have discovered a direct correlation between the level of trust among
partners and firm profitability. If the level of
trust and respect is high, profitability is also
high – and just the opposite is true when
trust and respect are low. While this might
seem to be common sense, achieving trust
can be hard to accomplish. I have come to
the conclusion that many partner relationships face conditional barriers to trust
34 outlook
depending on profitability and income.
If partners are making money, they will
trust and respect each other. Absent that,
they will withhold judgment and question
motives. Peak performance is difficult to
achieve when partners or employees do
not have absolute confidence in the leadership and direction of the firm.
You can take deliberate steps to remove
these conditional barriers to success. Doing
business as usual and paying lip service
to the issues will not facilitate change. A
leadership and culture intervention is the
place to start.
Hold a Partner Summit
I call this a summit as it is about firm
strategy at the very highest level, and it
emphasizes the urgency and importance
of these matters. This is not about the “soft”
stuff; it is about the “smart” and important
stuff that really makes you money.
Steve Erickson is a nationally recognized consultant to accounting
firms, specializing in resolving the
partner and people issues that limit
the success of professional service
firms. He speaks frequently at national and international conferences
and has been listed as one of the ten
most recommended consultants in
the United States by INSIDE Public
Accounting. He writes extensively
for professional publications and is
frequently quoted in national news
and professional periodicals.
Adopt a Partner “Code of
Conduct”
Typical subjects include behaviour, time
and billing requirements, scheduling and
resource management, and adherence to
systems and processes. The approved Code
of Conduct must be supported by leadership. If the partners don’t follow the rules, is
it realistic to think employees will? Partners
must “walk the talk.”
Adopt or Re-emphasize your
Firm’s Core Values
Many core value statements are overly
complex and not followed in daily practice.
Pick three or four non-negotiable core
values and live them every day, no excep-
resources, courses and
tools of the trade
practiceUpdate
tions. Once adopted, the core values
must be adhered to by both partners
and employees to maintain trust in the
partners’ ability to govern the practice.
ponent of their evaluation process. This
lets everyone in the firm know that you
are serious about improving the culture
in the firm.
Invite Senior Staff to a
“Leadership Summit”
Inform senior staff of the policies and
rules that have been adopted and
solicit their input to gain support and
ideas for implementation. This is a very
important step! Partners often try to
implement policies without the support
of management, only to subsequently
have the effort fail.
Include your management team
in the solution by letting them have
a stake in the outcome. This could include decisions about how the policies
will be applied and how staff can help
with the implementation.
Many firms make the support of
these policies and core values a com-
Announce the Initiatives
Hold a firm-wide meeting to announce
the new initiatives and then develop a
program to keep the word out among
your employees. To be effective, these
matters must be continually reinforced.
Partner accountability and unity was
listed as the top concern in the 2011
Private Companies Practice Section
survey of accounting firms. This is a
huge issue in the profession. Take some
action now to improve partner and staff
relationships and watch 2013 be the
best year ever!
An earlier version of this article was
published on January 26, 2012 at
www.steveericksonllc.com.
Fall Public Practice Speed
Interview Nights
Public Practice Speed Interview
Nights are free events that provide
CGA firms with the opportunity to
recruit staff efficiently and quickly.
The next Speed Interview Night
in the Fraser Valley takes place on
November 15. To register your firm
contact Anita Fortune at
afortune@cga-bc.org. For job seekers, check CGAjobs.org for registration start dates.
Participate in the 2012 Public
Practice Survey
Practitioners are invited to participate in the 2012 Public Practice
Survey. Every participating firm
will receive survey results for any
of the three parts submitted:
1. Salaries and Charge-Out Rates
2. Practice Management
3. Information Technology
This helpful tool provides you
with useful statistical information
compiled from your CGA colleagues. The submission deadline
is October 31, 2012.
ASPE 2012 Annual Improvements Approved
The Accounting Standards Board
(AcSB) has approved the proposed
2012 Accounting Standards for
Private Enterprises (ASPE) improvements. Amendments will be
effective for years beginning on or
after January 1, 2013. In respect of
transitional provisions, the AcSB
agreed that prospective application will be permitted for the
changes to Sections 1651, Foreign
Currency Translation, and 3051,
Investments, and all other changes
will be applied retroactively. Earlier
application will be permitted.
outlook 35
In time with the season, this issue’s Current Assets features a variety of fall fashions for your desk and office
workspace. These nifty accessories will help customize and stylishly gadget-equip your desk.
$15.99
$13.99
$9.99
$4.99
currentAssets
By Trevor Hargreaves
Laser Guided Scissors
This is supposedly “great for gift wrapping, crafts or scrapbooking,” but on a
more exciting note, it’s also the kind of
office equipment that Q from James
Bond would issue if he worked in your
office supply room.
thinkgeek.com
36 outlook
The Cubicle Doorbell
The ultimate in office etiquette. Make
cubicle knocking a thing of the past
with this handy piece of digital
technology.
thinkgeek.com
>
>
Camera Pencil Sharpener
Anyone with an eye for vintage photography will recognize this convincing
recreation of a classic twin-lens reflex
camera. Normally at this point I would
launch into a detailed description of the
features the gadget boasts, but this one
isn’t so complicated. It sharpens pencils,
comes equipped with an onboard sharpness adjustment knob, has a desk-protecting rubberized bottom and features
an easy-to-clean slide-out shavings tray.
thinkgeek.com
>
>
gadgets
Keyboard Keys Stationery Set
Keep your desk neat and tidy with this
handy little set. The magnetic “enter”
key holds your paper clips and keeps
them ordered. Also comes equipped
with a keyboard brush, hole punch and
#10 stapler.
thinkgeek.com
$19.99
$9.99
$12.99
$14.99
>
$24.99
5-in-1 Pen
Also straight out of the MI-5 standard spyissue category, this pen boasts a replaceable
ballpoint pen, a digital stylus, an LED flexible
Mini Business Card File Cabinet
Now this is a stylish storage option for those
with an array of business contacts!
thinkgeek.com
Dual Heated Travel Mug
This clever device allows you to heat your coffee by drawing power right from your desktop.
Equipped with both USB and cigarette lighter
adaptors, this 16 ounce travel mug is ideal for
anyone who wants a hot cup of joe on the go.
thinkgeek.com
>
>
flashlight, a UV light and a red laser pointer.
thinkgeek.com
>
>
Mantis LED Desk Lamp
Attaching with ease to most laptops,
monitors, shelves or tabletops, this versatile
device adds a great deal of light to your
workspace in a location that won’t take up
additional desk space.
thinkgeek.com
Drinklip Portable Cupholder
Beverage accessibility is a clearly advantageous modification to the average workspace.
This cupholder attaches easily to any desk,
table or shelf and can be ergonomically placed
within easy reach.
thinkgeek.com
outlook 37
2
3
4
1
5
6
7
snapShots
Conference 2012 A Big Success
1: CKNW’s Bill Good, Vaughn Palmer of The
Vancouver Sun, and Global TV’s Keith Baldrey
provided their insight in their Cutting Edge from
the Leg.
2: William Yau, CGA, and Gershom Chi Ip Lee, CGA.
3: David Fairhall, FCGA, had pointed questions for
the political panel.
38 outlook
Annual Public Practice Meeting
4 (from left to right): Rita Caron, CGA; Board
of Governor Member C.Y. Tay, CGA; Kelly
Nichols, CGA; and Charlene McComber,
CGA.
5: Patricia Yu-Hsiu Chang, CGA, and Stanley
Chang, CGA, attended the Conference
Trade Show.
6: Janet Kirby, CGA, (right) presents flowers
to former Director of Public Practice Tina
Peters, CGA, who recently returned to public
practice in Kamloops.
7: Kristen Karlstedt, CGA, is all smiles at the
annual public practice meeting.
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steve_zadra@hsbc.ca
Tel: 604-623-3256
Toll Free: 1-888-286-7833
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Wealth Management
885 West Georgia Street, 11th floor
Vancouver B.C – V6C 3E8
National Bank Financial is an indirect wholly-owned subsidiary of National Bank of Canada which is a public company listed on the Toronto Stock Exchange (NA: TSX).
partingshot
In each issue of Outlook, we profile a member or CGA
student who is helping to build the CGA brand. This month
we spoke with
Angela Trif, CGA
Business Consultant, Interior Health Authority
By Patrick Schryburt
Can you briefly describe
your role with the Interior Health Authority?
I am the Business Consultant supporting Dr. Jeremy
Etherington, the VP of Medicine and Quality. In this role
I meet regularly with physician leaders and corporate
and network directors to
help them understand their
financial reports and explain
the variances from budget.
What do you enjoy most
about your job?
The brilliant people I get to
work with on a daily basis.
Working with high achievers is very motivating. Everyone wants to do the best
they can and this synergy is
resulting in efficiencies for
the organization.
What is the one thing
that would surprise
people the most about
our system of health care
delivery?
That it costs $4.8 million
per day to run the Interior Health Authority. We
operate 24 hours a day,
40 outlook
seven days a week, which
translates to $200,000 an
hour. Over the last eight
years, B.C. has gone from
being the province with
the third-highest costs for
health care to one with
the second-lowest costs,
all while achieving better
outcomes for our patients.
What do you like most
about accounting as a
career choice?
Accounting is my passion
and I love understanding
the meaning behind the
numbers. It gives me great
satisfaction when I can
solve issues and find ways
to save money.
Why did you choose CGA
for your professional accounting designation?
I liked its flexibility, particularly in how it enabled me
to continue to work while
completing my accounting
studies. The CGA program
offers professionals a
truly distinctive edge and is
Canada’s most respected accounting studies program.
T
DE
OF
NE
RI
1
O
OF O
F ON
You are a member of the
Okanagan Chapter and
you were the Volunteers’
Coordinator on the 2012
Conference Committee.
What motivates you to volunteer for the Association?
I like that I contribute to
making the CGA brand well
known, ensuring that British
Columbians know CGAs are
respected professionals who
support their communities.
Why do you think this
year’s CGA conference
in Kelowna was the best
ever?
The setting for the conference was the beautiful Okanagan. Participants enjoyed a
variety of learning situations,
including keynotes and
interactive sessions. We were
able to assimilate important
knowledge and insight from
exceptional presenters and
facilitators. I can hardly overstate how awesome “The Fun
Night” was for everyone who
attended.
Do you have a personal
mantra?
Never stop learning and
always try to better yourself and your surroundings.
Develop strong relationships
with people in the organization, as it is guaranteed to
further your career.
What are your favourite
hobbies?
Spending time outdoors
E
1
O NE
I like that I
contribute to
making the
CGA brand well
known, ensuring that British
Columbians
know CGAs are
respected professionals who
support their
communities.
with my family, hiking,
biking, skiing and camping.
Travelling to countries rich
in culture and history gives
me a better appreciation for
living in the best country in
the world.
What’s the last good
movie you saw? Good
book you read?
The Best Exotic Marigold Hotel, a very pleasant film with
a distinct feel-good factor
helped by the vibrancy of
the Indian setting.
Persuasion by Arlene
Dickinson. At work, at
home and everywhere
in between, we need to
persuade others every day:
to give us a job, to award
us the account, to give us
the first available appointment. This book is a great
resource in learning the art
of persuading others.
What’s the secret to
achieving good work/life
balance?
Put first things first. Prioritize. Make time to avoid
interruptions by turning off
email and the phone. Learn
to say no to simplify your
life. Take a step back and
gain perspective on what
is really important, what
we should be concerned
about and what we can let
go. Find an understanding
employer with whom you
can negotiate the flexibility
to work from home.
outlook 41
IMAGE IS EVERYTHING
Price paid by Coca-Cola
for its logo, created by its
founder’s bookkeeper in
1886:
$0
Price paid by Google
for its multicolour logo,
created in 1998 by cofounder Sergey Brin:
$0
$295
Price paid by Nike cofounder Phil Knight for
its famous swoosh logo
in 1971:
Price paid to redesign
Pepsi’s logo in 2008:
Price for Las Vegasbased restaurant Fleur’s
FleurBurger 5000, which
features a Wagyu beef
and foie gras patty with
shaved black truffles and
includes a $2,500 bottle
of Château Pétrus:
$1 million
$5,000
Price paid by British
Petroleum in 2008 to
change its logo and reinvent itself as an energy
company people can
have faith in:
Price for Kitsilano-based
Vera’s Burger Shack’s
Vera Burger, which
includes ketchup,
mustard, relish, lettuce,
tomato and Vera’s sauce:
$35
BACK TO WORK
New jobs created in all of
Canada in August:
34,000
Number of those that
were created in B.C.
alone:
15,000
B.C.’s unemployment rate
at the end of August:
6.7 per cent
APPLES AND ORANGES
Market capitalization (in
U.S. dollars) of Apple at
the end of August:
$632 billion
Combined market capitalization of Microsoft,
Google, Facebook and
Amazon:
$631 billion
Apple’s market capitalization in 1999:
$9 billion
42
would you like
FRIES WITH THAT?
Price for New York-based
restaurant Serendipity 3’s
Le Burger Extravagant,
which is made with
white truffle butterinfused Japanese Wagyu
beef, topped with a fried
quail egg and served on
a gold-dusted roll:
$211 million
$5.99
Sources: Values compiled by thenextweb.com; BC Ministry of Jobs, Tourism and Skills Training; stocklogos.com; mentalfloss.com.
morethanNumbers
Certified General Accountants
We’ve made Private Health Services
Plans cookie-cutter simple!
Recent Revenue Canada (CRA) Federal legislation now allows business owners
to fully tax deduct 100% of their healthcare costs as a business expense using
a Private Health Services Plan.
Who qualifies?
Anyone who owns a business of any size, employees and dependents.
No health questions or age limits. This is not insurance..
What’s covered?
100% of virtually all dental and medical expenses. Visit our website
www.trustedadvisor.ca for a complete list
What’s the cost?
There is a one-time set-up fee plus applicable taxes. The additional cost is 10%
administration fee plus applicable taxes, depending on which province you live in.
Who uses a Private Health Services Plan?
Business owners who:
> do not qualify for group insurance or find it too expensive
> find group insurance coverage too restrictive; i.e.; orthodontics
> have sick child or spouse
> want front of line treatment
> want to write-off child support relating to healthcare expenses
> large groups who have been struggling with significant cost
increases each year.
A partial list of qualified expenses:
Acupuncture
Alcoholism Treatment
Ambulance
Anesthetist
Attendant Care
Birth Control Pills
Blood tests
Catscan
Chinese medicine
Chiropractor
Crowns
Dental Treatment
Dental Implants
Dental X-rays
Dentures
Dermatologist
Detoxification Clinic
Diagnostic Fees
Dietitian
Drug Addiction
Therapy
Eyeglasses
Fertility Treatments
Guide Dog
Hair Transplant
Hearing Aid and
Batteries
Hospital Bills
Insulin Treatments
Lab Tests
Laser Eye Surgery
Lodging (away from
home for outpatient
care)
MRI
Naturopath
Nursing Home (incl.
board & meals)
Optician
Oral Surgery
Orthodontist
Orthopedist
Osteopath
Out-of-Country
Medical Expenses
Physician
Physiotherapist
Prescription Medicine
Psychiatrist
Psychologist
Psychotherapy
Registered Massage
Therapy
Renovations &
Alterations to
Dwelling
(for severe &
prolonged
impairments)
Special School Costs
for the Handicapped
Surgeon
Transportation
Expenses (relative to
health care)
Viagra
Vitamins (if prescribed)
Wheelchair
X rays
Note: This is a partial list. All allowable
expenses must qualify as outlined in the
Income Tax Act
Why are your clients doing this
with their healthcare expenses?
When they could
be doing this!
Healthcare Costs $1600
Healthcare Costs $1600
(3% of net income) Deduct $1500
Admin Fee (10%) $ 160
Available for credit $100
Tax-deductible total $1760
Tax Credit* $25
Tax Deduction $1760
EXAMPLE:
Net income of $50,000 per year with family medical expenses of $1600
*Based on a combined Federal and Provincial rate of 25%.
Be the one to advise your
clients...or someone else will.
The Robinson Group Inc.
June Borlé: 604.874.4429 Fax: 604.873.5600
Toll Free: 1.888.880.2266 Email: june@trustedadvisor.ca
www.trustedadvisor.ca
But it’s who
you know that
really counts
She came to us.
Shouldn’t you?
VANCOUVER | CALGARY
604-682-8367
1800 - 777 Hornby St., Vancouver
www.angusone.com